China's Surging Inflation
Is Country's Latest Export

A surge in food prices pushed Chinese inflation in July to its fastest growth in a decade, prompting fresh predictions of a further interest-rate increase, James T. Areddy reports.

The inflation report underscored that China, once described as exporting deflation to the rest of the world, is now more likely to be exporting inflation. In the U.S., prices of Chinese imports have been climbing faster than at any time since the U.S. began...